Correlation Between EIH Associated and Bharatiya Global
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By analyzing existing cross correlation between EIH Associated Hotels and Bharatiya Global Infomedia, you can compare the effects of market volatilities on EIH Associated and Bharatiya Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in EIH Associated with a short position of Bharatiya Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of EIH Associated and Bharatiya Global.
Diversification Opportunities for EIH Associated and Bharatiya Global
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between EIH and Bharatiya is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding EIH Associated Hotels and Bharatiya Global Infomedia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bharatiya Global Inf and EIH Associated is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on EIH Associated Hotels are associated (or correlated) with Bharatiya Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bharatiya Global Inf has no effect on the direction of EIH Associated i.e., EIH Associated and Bharatiya Global go up and down completely randomly.
Pair Corralation between EIH Associated and Bharatiya Global
Assuming the 90 days trading horizon EIH Associated Hotels is expected to under-perform the Bharatiya Global. In addition to that, EIH Associated is 1.56 times more volatile than Bharatiya Global Infomedia. It trades about -0.02 of its total potential returns per unit of risk. Bharatiya Global Infomedia is currently generating about 0.49 per unit of volatility. If you would invest 408.00 in Bharatiya Global Infomedia on October 12, 2024 and sell it today you would earn a total of 86.00 from holding Bharatiya Global Infomedia or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.24% |
| Values | Daily Returns |
EIH Associated Hotels vs. Bharatiya Global Infomedia
Performance |
| Timeline |
| EIH Associated Hotels |
| Bharatiya Global Inf |
EIH Associated and Bharatiya Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EIH Associated and Bharatiya Global
The main advantage of trading using opposite EIH Associated and Bharatiya Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EIH Associated position performs unexpectedly, Bharatiya Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bharatiya Global will offset losses from the drop in Bharatiya Global's long position.| EIH Associated vs. Consolidated Construction Consortium | EIH Associated vs. Biofil Chemicals Pharmaceuticals | EIH Associated vs. Refex Industries Limited | EIH Associated vs. Kingfa Science Technology |
| Bharatiya Global vs. EIH Associated Hotels | Bharatiya Global vs. Advani Hotels Resorts | Bharatiya Global vs. Samhi Hotels Limited | Bharatiya Global vs. Emkay Global Financial |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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